DekaBank Deutsche Girozentrale Acquires Shares of 140,000 Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

DekaBank Deutsche Girozentrale acquired a new position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 140,000 shares of the company's stock, valued at approximately $462,000. DekaBank Deutsche Girozentrale owned approximately 0.15% of Arcutis Biotherapeutics at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fox Run Management L.L.C. acquired a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter worth $60,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Arcutis Biotherapeutics by 586.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,920 shares of the company's stock worth $35,000 after purchasing an additional 9,330 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter worth $311,000. Deutsche Bank AG boosted its position in shares of Arcutis Biotherapeutics by 13.7% in the 3rd quarter. Deutsche Bank AG now owns 30,362 shares of the company's stock worth $161,000 after purchasing an additional 3,655 shares in the last quarter. Finally, Tejara Capital Ltd boosted its position in shares of Arcutis Biotherapeutics by 88.3% in the 3rd quarter. Tejara Capital Ltd now owns 309,179 shares of the company's stock worth $1,642,000 after purchasing an additional 145,000 shares in the last quarter.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ ARQT traded up $0.01 during trading on Tuesday, reaching $10.10. 1,859,557 shares of the company traded hands, compared to its average volume of 4,838,291. The firm's fifty day simple moving average is $9.84 and its 200 day simple moving average is $5.55. The stock has a market cap of $977.78 million, a P/E ratio of -2.58 and a beta of 1.14. Arcutis Biotherapeutics, Inc. has a 12-month low of $1.76 and a 12-month high of $15.21. The company has a current ratio of 7.08, a quick ratio of 6.80 and a debt-to-equity ratio of 2.28.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported ($0.72) EPS for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.08). Arcutis Biotherapeutics had a negative net margin of 439.79% and a negative return on equity of 294.85%. The business had revenue of $13.53 million for the quarter, compared to analyst estimates of $11.78 million. During the same quarter last year, the business earned ($1.18) earnings per share. As a group, research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -2.49 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Masaru Matsuda sold 3,760 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $11.12, for a total value of $41,811.20. Following the sale, the insider now directly owns 190,424 shares in the company, valued at approximately $2,117,514.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ARQT. Mizuho reissued a "buy" rating and issued a $16.00 price objective (up previously from $8.00) on shares of Arcutis Biotherapeutics in a research report on Friday, February 23rd. The Goldman Sachs Group raised their target price on Arcutis Biotherapeutics from $6.00 to $11.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 28th. Finally, Needham & Company LLC restated a "buy" rating and issued a $16.00 target price on shares of Arcutis Biotherapeutics in a research note on Friday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $26.56.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical roflumilast cream that has completed Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis.